Three Questions to Ask Before Changing Careers

While changing careers is becoming the rule rather than the exception, it is a decision that requires thoughtful consideration, says Senior CFP Board Ambassador Jill Schlesinger, CFP®

Career changes and salary negotiations – two decisions that require time and energy to find the best solution. Before jumping ship or entering discussions with your boss, Senior CFP Board Ambassador Jill Schlesinger, CFP® says you should evaluate the situation and determine which option is best for you.

Sometimes, it can be daunting to know whether changing careers or initiating salary negotiations with your current employer is the best option for your financial situation. There are positives and negatives to both decisions. However, it doesn’t have to be a trying process to choose the best option for you and your family. Schlesinger shares the following questions to ask yourself to help you better understand what makes the most sense for you: 

• What’s your purpose? - The first step in determining if changing your career is the best option for you is to figure out why you are interested in making a switch. It is best to get to the bottom of the situation before making a rash decision.
• Is this what’s best for you? - In terms of finances, do the positives of a career change outweigh the negatives? You must decide whether longer hours or a loss of benefits are worth a larger salary.
• Do you have a strategy? - If you decide the hassle of a career change isn’t worth the trouble but you still want a raise, determine how you want to broach the subject with your boss. Studies show offering a salary range will increase your changes of a higher salary!

Read Schlesinger’s full blog post here with more details.

For more guidance on working through these steps and other ways to understand your finances before making a significant life change, talk to a CERTIFIED FINANCIAL PLANNER™ professional today or visit www.letsmakeaplan.org